Cowen Group to acquire Convergex for $116 mln
Cowen Group Inc. said Monday it has agreed to acquire Convergex Group LLC from private-equity firm GTCR, Bank of New York Mellon Corp. and other shareholders for about $116 million. The deal will make Cowen the biggest independent trading platform for equities, with research and global execution capabilities, Cowen said in a statement. The companies had combined pro forma brokerage execution revenue of more than $400 million in 2016, it said. The deal is expected to boost economic income per share in 2018. Читать дальше...